Every day, Hong Anh from Tan Thoi Hiep ward, TP HCM, spends 120,000-160,000 VND on groceries for her four-person family. She noted that compared to the first half of the year, her family's meal expenses have decreased by about 15-20%, as prices for many types of meat, fish, and fresh vegetables have cooled since early august.

"Vegetables and meat are both cheaper than before; I save tens of thousands of dong every day", she stated.

A VnExpress survey across numerous traditional markets and supermarkets in TP HCM revealed that many essential food items have uniformly dropped in price, following sharp increases in the first half of the year.

Pork prices in local markets have seen a clear reduction. Currently, a kilogram of pork belly typically costs 140,000-150,000 VND, which is 10,000-20,000 VND lower than in previous months. Pork thigh is now 100,000-120,000 VND per kilogram, while spareribs are around 160,000 VND.

This trend is also observed in supermarkets. At retail points in An Lac, An Hoi Dong, and Phu Lam wards, pork and chicken prices have fallen by 10-22%, and beef prices are down 10% compared to earlier periods.

The Ho Chi Minh City Department of Finance also adjusted prices downward by 2,000-9,000 VND per kilogram for nine items, including pork and bones, under its price stabilization program. Consequently, staple foods, other food items, and school supplies continue to be at least 5% lower than market prices.

Beyond meat, vegetable prices have also significantly decreased after a prolonged period of high costs. Squash, gourds, and loofah, which were 40,000-50,000 VND per kilogram in the first half of this year, are now around 25,000 VND. Tomato prices have halved, dropping from 70,000 VND to 30,000-40,000 VND per kilogram, while many leafy greens have decreased by an additional 5,000-7,000 VND.

Le Van Giay, director of Muoi Hai Safe Vegetable Cooperative (Tay Ninh), stated that garden vegetable prices have remained low for many months due to increased supply, while purchasing power has not yet recovered. Leafy greens at the farm gate are only 8,000-9,000 VND per kilogram, and other root vegetables are around 13,000 VND, which is 3,000-5,000 VND lower than usual.

In addition to pork and fresh vegetables, seafood prices have also fallen by 15-20%, while fruit prices are the lowest ever, thanks to many varieties entering their peak harvest season.

Commodity groups saw price reductions from late july, early august compared to the first half of the year. Photo uses AI

A representative from a retail chain in TP HCM noted that in the first half of the year, high food prices led many households to tighten spending, prioritize essential items, and reduce purchase volumes. However, since july, as overall prices stabilized, purchasing power within this retail system increased by about 7-10% compared to the beginning of the year, particularly for fresh produce.

"Abundant supply and cooling gasoline prices have reduced transportation and input costs, giving businesses room to adjust selling prices", he said.

Travel costs also decreased with fuel prices. Compared to their peak in late march and early april, gasoline and diesel prices have fallen by approximately 18% and over 27% respectively. Currently, one liter of E10 RON95-III gasoline is 22,850 VND, while E5 RON92 is 22,380 VND, and diesel is 27,620 VND.

As a result, airfare prices cooled down after the summer peak. Some long-haul routes saw prices 10-15% lower than the same period, while many domestic routes offered low-range tickets starting from tens of thousands of dong (excluding taxes and fees).

This trend is also reflected in the general price level. According to the Statistics Department (Ministry of Finance), the consumer price index (CPI) for july decreased by 0.12% compared to the previous month, ending a streak of continuous increases over several months. This decline was primarily due to cooling fuel and food prices, which significantly reduced costs in the transportation, food and catering services, and housing, electricity, and fuel groups.

Pork stall on Le Duc Tho street, An Hoi Dong ward, TP HCM. Photo: Thi Ha

Retail and consumer service revenue in TP HCM for july reached an estimated over 170 trillion VND, an increase of 2.3% compared to the previous month and 16.3% year-on-year, according to the TP HCM statistics agency. Cumulatively for seven months, total retail sales exceeded 1.13 quadrillion VND, up over 13%.

To maintain purchasing power, Nguyen Nguyen Phuong, deputy director of the Ho Chi Minh City Department of Industry and Trade, stated that the department is collaborating with retailers to implement a series of demand-stimulating programs. At WinMart, Bach Hoa Xanh, Co.opmart, GO!, and Satra, thousands of food and essential items are being offered at 10-30% discounts, or with buy-one-get-one promotions.

Distributors are also proactively increasing reserves of meat, vegetables, and processed foods to prepare for an anticipated surge in consumption starting in september, aiming to prevent potential shortages that could lead to price increases.

Thi Ha